How does Railroad Retirement work?

General discussion about working in the railroad industry. Industry employers are welcome to post openings here.

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NScarbon
Posts: 4
Joined: Tue Nov 22, 2011 8:43 am

Re: How does Railroad Retirement work?

Post by NScarbon » Tue Nov 22, 2011 12:54 pm

jes1976 wrote:All very good information. My bf has a interview in two days. I have been reading along with him all the rr info I can. What would you say the odds are when you get an interview? fifty fifty? I know it depends on the person. I am wondering how many people they call to the interview for each position opened? There are seven that he is getting interviewed for.
It depends on the railroad and the craft how many they interview for each position. I got hired by NS back in September and at my hiring session there were 24 applicants they selected for the session out of over 300 that applied. Out of the 24 only 13 showed up on time and we went forward in the process. In the end they selected me for the position, but they kept 2 backups incase something fell thru with me like false application, failed drug test, or physical.

Pj
Posts: 250
Joined: Fri Mar 12, 2004 12:06 pm

Re: How does Railroad Retirement work?

Post by Pj » Sun Nov 27, 2011 4:02 pm

You need age and months. The benefit I starting young is that your retiremt will be better than someone starting at 30 if you both made the same amount yearly due to having more time in the system

COEN77
Posts: 1777
Joined: Tue Sep 26, 2006 6:11 am
Location: Richmond, Va

Re: How does Railroad Retirement work?

Post by COEN77 » Mon Nov 28, 2011 7:55 am

NScarbon wrote:I have read on this forum that to get full benefits from railroad retirement I have to meet two requirements: work until age 60 and 360 months of service. I am only 23 and just got hired on with NS starting next month, i thought that since I am starting my career at such a young age I would be able to retire at the age of 53. After reading some replies on this board I will have to work until 60 despite having done my 360 months of credible service is this correct?
You're partially correct retirement age is 60. The 360 months is credits with Railroad Retirement Board not with the railroad. There are some things which can affect getting credits furloughs, time lose for illness/surgery, time in the street for discipline ect....When I reached my 30th anniversery on the railroad I still lacked 11 months in credits for RRB because of furloughs. There have been a few attempts in the past by some of the rail unions to try and get a 55/30 better known as the 85 plan for retirement. None have been successful. During the 1980's under Ronald Raygun retirement age was increased on the railroads to 62 years old. It was finally lowered back to 60 around 5 years ago.

Pj
Posts: 250
Joined: Fri Mar 12, 2004 12:06 pm

Re: How does Railroad Retirement work?

Post by Pj » Mon Nov 28, 2011 9:38 am

And 360 months can include any railroad that is defined by the rrb as an interstate carrier etc (basically not a tourist rr or one cutoff from the national rail network). In short, you could do 10 years at UP, another 10 at NS then finish out your last 10 at Amtrak and have your 30 (provided that you didn't miss a month anywhere in there).

Working just one day in a month will qualify the month.

RDGTRANSMUSEUM
Posts: 356
Joined: Fri Jan 25, 2008 8:34 pm
Location: reading,pa

Re: How does Railroad Retirement work?

Post by RDGTRANSMUSEUM » Tue Nov 29, 2011 7:14 pm

if a tourist line pays into RRB ,you get the credit. I know my local ones here in PA do........you are correct on the one start a month thing. at this point i need 24 months,ill go back someday
visit us at : readingtransportationmuseum.org

Pj
Posts: 250
Joined: Fri Mar 12, 2004 12:06 pm

Re: How does Railroad Retirement work?

Post by Pj » Thu Dec 01, 2011 11:59 am

Although not unheard of, not typically. Somewhere I have a copy of a letter of determiniation for RRB status for a railroad. If the tourist operation also provides a freight service, then there typically is no problem. If all they do is move people around a 2 mile loop, then typically not.

There is a possiblility that some of these operations may have been grandfathered in when there was a freight componet or spun off from another RR back in the day, but again...plain old tourist operations do not typically quailify. Thats how it was explained to me at least, could be wrong.

http://www.rrb.gov/pdf/bcd/bcd95-77.pdf

Some boring readings:
http://www.rrb.gov/blaw/bcd/line_haul_railroad.asp
http://www.rrb.gov/blaw/bcd/employer_co ... inated.asp

DutchRailnut
Posts: 22269
Joined: Thu Mar 11, 2004 8:02 pm
Location: released from Stalag 13

Re: How does Railroad Retirement work?

Post by DutchRailnut » Thu Dec 01, 2011 8:40 pm

a lot of shortlines and regionals do not participate in railroad retirement.
and for example tri-rail in Florida does not participate.
If Conductors are in charge, why are they promoted to be Engineer???

Retired Triebfahrzeugführer. I am not a moderator.

hardball
Posts: 5
Joined: Sat Aug 13, 2011 6:56 am

Re: How does Railroad Retirement work?

Post by hardball » Sun Jan 22, 2012 10:52 pm

I have worked for a state agency, and am eligible to draw retirement from them. I am about to begin a new career with the railroad at age 40. Can I also draw railroad retirement without a penalty? Most discussions here refer to social security. My state retirement is not related to social security, but is a public employees retirement system.

COEN77
Posts: 1777
Joined: Tue Sep 26, 2006 6:11 am
Location: Richmond, Va

Re: How does Railroad Retirement work?

Post by COEN77 » Mon Jan 23, 2012 9:30 am

hardball wrote:I have worked for a state agency, and am eligible to draw retirement from them. I am about to begin a new career with the railroad at age 40. Can I also draw railroad retirement without a penalty? Most discussions here refer to social security. My state retirement is not related to social security, but is a public employees retirement system.
That's a good question. I know on the RRB retirement application it requires to list other pensions like government, military ect...Contact the local Railroad Retirement Board office they'll be glad to answer your concerns. Their number should be in the blue government section of the phone book. The website is alright but a little confusing to get direct answers.

http://www.rrb.gov

railgirl
Posts: 12
Joined: Tue Jan 01, 2013 9:22 pm

Re: How does Railroad Retirement work?

Post by railgirl » Sun Jan 06, 2013 4:55 pm

Does your 401(k) effect the amount you collect from RR retirement? I know there are limits on how much you can work after you retire, are there limits on how much you can collect from your 401(k) per month?
Also as a railroader married to a railroader (no, I did not meet him out here, that happened before either of us worked out here) I was told that one of us will be able to collect the spousal benifit but not both.

Railgirl.blogspot.com

Pj
Posts: 250
Joined: Fri Mar 12, 2004 12:06 pm

Re: How does Railroad Retirement work?

Post by Pj » Sun Jan 06, 2013 5:17 pm

401k will not affect the railroaders retirement. If your a spouse of a railroader, your 401k amount will be deducted from your part of the pension. IE, if your RR spouse pension is 1000, and your 401k is 500, you will only get 500 from rr

railgirl
Posts: 12
Joined: Tue Jan 01, 2013 9:22 pm

Re: How does Railroad Retirement work?

Post by railgirl » Sun Jan 06, 2013 6:18 pm

Pj wrote:401k will not affect the railroaders retirement. If your a spouse of a railroader, your 401k amount will be deducted from your part of the pension. IE, if your RR spouse pension is 1000, and your 401k is 500, you will only get 500 from rr
I am a railroader and the spouse of one, and we both have seperate 401(k)s. I was told that one of us would collect the spousal payment not both, so one of us could collect 401(k) and one could collect spousal payment without effecting the other?

Pj
Posts: 250
Joined: Fri Mar 12, 2004 12:06 pm

Re: How does Railroad Retirement work?

Post by Pj » Mon Jan 07, 2013 9:10 am

My understanding from the RRB, and from a married couple that I work with is the following:

You will receieve your benefit from his retirement minus what you get from your 401k
He will receive his benefit from your retirement minus what he gets from his 401k

You will both receive what your entitled to from your main normal RR retirement.

Your main retirement should not change based on being married to another railroader for the fact that your both paying the same taxes into the same system.

In any case, I'd call your local RRB office (and not the main number in DC as most of those telephone drones are pretty rude). Usually the local office's are pretty good. I'd also recommend sending one of those secure emails (its an option to send one to the local RRB office) and see what you get for a response.

RRB: (877) 772-5772
Secure email: https://secure.rrb.gov/211.html

railgirl
Posts: 12
Joined: Tue Jan 01, 2013 9:22 pm

Re: How does Railroad Retirement work?

Post by railgirl » Tue Jan 08, 2013 10:19 pm

Thanks for all the info. I will contact the RRB, the one in Roanoke was pretty decent to me when I was furloughed. It will probably all change just when I get it figured out.


Railgirl.blogspot.com

dequino67
Posts: 18
Joined: Wed Feb 20, 2013 8:35 pm
Location: Los Angeles, CA

Re: How does Railroad Retirement work?

Post by dequino67 » Thu Feb 28, 2013 10:18 pm

Damn.... so for a fella like me starting a second career here (at 46), I won't be able to retire until 76?

Brutal

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